**[Analysis: Bitcoin May Drop Another 30% This Year, Now in a Deep Bear Market Phase]** According to a report by Jinse Finance, CK Zheng, founder of the crypto hedge fund ZX Squared Capital, stated that Bitcoin has entered a deep bear market phase. With the increasing influence of the "four-year cycle," prices may drop further by about 30% by 2026. Previously, Bitcoin reached an all-time high of over $126,000 in October 2025, approximately 16–18 months after the halving in April 2024. It has since fallen back to around $68,000, with its trend largely aligning with the four-year cycle pattern centered around halving events. Retail investors' behavior of chasing prices during market frenzy and panic selling during downturns has reinforced this bear market cycle. Meanwhile, institutional adoption remains limited, with crypto ETFs and digital asset reserve companies accounting for only about 10% of the overall market. In a bear market environment, some companies holding Bitcoin as a reserve asset may be forced to sell assets due to debt repayment pressures, further exacerbating downward market pressure. (CoinDesk)